What happens if there is no money tax returns, etc. or other property to turnover to the trustee?
June 28, 2022
By Diane Drain Attorney & Retired Law Professor
Your case will be called a “no-asset” case if you have no money or property worth more than the exemptions allowed by law. The Trustee/court will decide whether or not your case is a no-asset case shortly after the Meeting of Creditors.
Unless a creditor files an objection to your discharge, the Trustee requests an extension of time, or you want additional time to reaffirm debts, your discharge will usually be entered about 120 days after your case was originally filed. Your case will most likely be closed soon after you are discharged.
About the Author: Diane Drain
Diane is a well respected Arizona bankruptcy and foreclosure attorney. As a retired law professor, she believes in offering everyone, not just her clients, advice about bankruptcy and Arizona foreclosure laws. Diane is also a mentor to hundreds of Arizona attorneys.
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